You gotta know when to hold ’em…

“Bernanke acknowledged that the US-economy faces an ‘unusually uncertain time,’ but if necessary, he hinted the central bank would resort to ‘Quantitative Easing,’ (QE), or printing vast quantities of US-dollars, in order to prevent a deflationary spiral.”

What the Fed Chairman should have said is:Since deflation is now a real threat to the US economy, we now have justification for printing more money, which is what we were going to do anyway.

Or, as the cowboys of the Old West used to say: Ride ’em till they drop.
Or, as the ole dairy farmer used to say: Milk her for all she’s worth.
Or, as the ole truck farmer used to say: There’s only one way to get blood out of a turnip–keep a-squeezin’.

Or, as the young entrepreneur used to say: If life gives you lemons, make lemonaade.
Or, as the Fed now says: If life gives you deflation, make inflation.
Or, as the Chinese bond-buying bureaucrats must surely be a-sayin’: Those Americans, Bernanke and Geithner, are the smoothest poker-playing buckeroos that ever caught a QE ride this side of the Potomac trail.
The poker-faced twins from the Fed-town sure know how to, as Gary says, keep their “gunpowder dry.”
It just may work; its how the West was won, and maybe the East too…